17.195/196 – Globalization Fall 2005
Lecture 3 – October 3
Questions for Study
Norman Angell, The Great Illusion, ch.1-4.
1. Angell challenges the view that the wealth, prosperity, and well-being of a nation
depend upon its military power.” (p98) How does he do this? Are you convinced by
his arguments? Why/why not?
2. Why has conquest become unprofitable in his view? Was it ever profitable? What has
changed? What are the costs involved in seizing and holding onto another country?
Can you think of examples that might support or refute his argument?
3. How do economic and financial interdependence preserve peace according to Angell?
What do you think of his argument?
4. In which critical respects [i.e., critical for the argument he is making] was the
economic and political world that Angell analyzed the same as ours? In which
significant respects have the international economy or power relations among nations
changed?
Paul Hirst & Grahame Thompson, Globalization in Question, ch.1-2
1. Hirst and Thompson distinguish between internationalization and globalization. What
are the differences? Why do these distinctions matter?
2. What are the some of the economic indicators that can be used to "measure"
globalization? Do you find some more useful/relevant/informative than others and if
so, why?
3. What are the main monetary regimes that have been used to facilitate international
economic interactions? What key feature is common to them?
Barry J. Eichengreen et al, “Is Globalization Today Really Different that
Globalization 100 Years Ago?” NBER Working Paper #7195, 1999
1. What conclusions do the authors reach about the levels of globalization in trade and
capital today compared to 100 years ago?
2. What accounts for the differences, if any, between their conclusions and those of H
irst
and Thompson? Who do you find more convincing? Why?
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